Noble Corp. (NE) Price Target Lowered to $6.00 at Jefferies Group
NE has been the subject of a number of other reports. Credit Suisse Group AG reiterated a buy rating and issued a $10.00 target price on shares of Noble Corp. in a research report on Thursday, September 1st. Citigroup Inc. reduced their target price on shares of Noble Corp. from $9.00 to $6.50 and set a neutral rating for the company in a research report on Thursday, August 25th. Evercore ISI reissued a buy rating on shares of Noble Corp. in a report on Thursday, September 22nd. Scotiabank reissued a sector perform rating and issued a $6.50 price objective on shares of Noble Corp. in a report on Wednesday, September 14th. Finally, Vetr lowered shares of Noble Corp. from a strong-buy rating to a buy rating and set a $7.10 price objective for the company. in a report on Thursday, September 8th. Seven investment analysts have rated the stock with a sell rating, seventeen have issued a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Hold and a consensus price target of $8.79.
Shares of Noble Corp. (NYSE:NE) opened at 6.21 on Wednesday. Noble Corp. has a 12-month low of $5.09 and a 12-month high of $14.64. The stock has a 50 day moving average of $5.92 and a 200 day moving average of $8.42. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 2.59 and a beta of 2.05.
Noble Corp. (NYSE:NE) last issued its earnings results on Wednesday, July 27th. The company reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.23 by $0.22. The business earned $894.70 million during the quarter, compared to analyst estimates of $527.48 million. Noble Corp. had a net margin of 18.34% and a return on equity of 5.22%. Noble Corp.’s quarterly revenue was down 37.2% on a year-over-year basis. During the same quarter last year, the company earned $0.64 earnings per share. Analysts forecast that Noble Corp. will post ($0.06) earnings per share for the current year.
Several hedge funds have recently modified their holdings of the company. PGGM Investments boosted its position in Noble Corp. by 2.5% in the first quarter. PGGM Investments now owns 166,830 shares of the company’s stock worth $1,727,000 after buying an additional 4,048 shares in the last quarter. Glenmede Trust Co. NA boosted its position in Noble Corp. by 271.5% in the first quarter. Glenmede Trust Co. NA now owns 179,212 shares of the company’s stock worth $1,853,000 after buying an additional 130,972 shares in the last quarter. Aperio Group LLC boosted its position in Noble Corp. by 19.8% in the first quarter. Aperio Group LLC now owns 235,565 shares of the company’s stock worth $2,438,000 after buying an additional 39,013 shares in the last quarter. IFP Advisors Inc boosted its position in Noble Corp. by 5.4% in the first quarter. IFP Advisors Inc now owns 10,692 shares of the company’s stock worth $111,000 after buying an additional 550 shares in the last quarter. Finally, Acrospire Investment Management LLC bought a new position in Noble Corp. during the first quarter worth $217,000. Institutional investors and hedge funds own 90.26% of the company’s stock.
About Noble Corp.
Noble Corporation is an offshore drilling contractor for the oil and gas industry. The Company performs contract drilling services with its fleet of 79 mobile offshore drilling units and one floating production storage and offloading unit (NYSE:NE) located globally.
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